Australian power main Woodside has posted a income of $3.08 billion for the second quarter, down 29 % in comparison with Q1 2023 as a consequence of decrease realized costs and manufacturing.
“Sturdy underlying operational efficiency within the second quarter was impacted by deliberate turnaround and upkeep actions significantly on the onshore Pluto LNG facility and related offshore services in Western Australia,” Woodside CEO Meg O’Neill stated.
She famous nonetheless that whereas manufacturing and gross sales had been decrease in contrast with the primary quarter of 2023, they had been increased than the corresponding interval final 12 months, reflecting Woodside’s expanded operations.
Manufacturing decreased 5 % in comparison with the earlier quarter to 44.5 million barrels of oil equal (Mmboe).
Nonetheless, the corporate stored its full-year manufacturing steerage unchanged at 180–190 MMboe.
Gross sales quantity was at 48.4 MMboe, down 4 % from Q1 2023.
The corporate stated it has progressed towards ultimate funding selections for a few initiatives.
“We additionally achieved an necessary step in the direction of value-accretive funding in future development, taking a ultimate funding resolution to develop the Trion oil subject offshore Mexico, topic to the regulator’s approval of the sphere growth plan which is predicted within the fourth quarter of this 12 months,” O’Neill stated.
The corporate stated that the ultimate funding resolution was taken for the Julimar-Brunello Part 3 undertaking. The undertaking entails the drilling of as much as 4 growth wells within the Julimar subject and the set up of subsea infrastructure to hook up with the prevailing Julimar subject manufacturing system. It’s set to movement recent provide to the Wheatstone LNG facility in Western Australia.
To contact the writer, e mail firstname.lastname@example.org